SMM Daily Comment On Domestic Iron Ore Market (Sep 15)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 12 Aug , 2026

[SMM Stainless Steel Daily Comment] SS Futures Consolidate on a Strong Note; Spot Stainless Steel Holds Steady with Off-Season Need-Based Deals SMM reported on August 12: SS futures showed a consolidation pattern on a strong note overall, though gains were rather limited. As of the close, the most-traded SS futures contract settled at 14,535 yuan/mt. In the spot market, although SS futures edged up, spot quotes did not show notable fluctuations, with a focus on stable quotes and active selling. Market inquiry activity picked up somewhat, but against the backdrop of the demand off-season, actual transactions remained need-based. The most-traded SS futures contract. At 10:15 a.m., SS2610 was at 14,555 yuan/mt, up 35 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi region were in the range of 315-765 yuan/mt. In the spot market, the average price of Wuxi cold-rolled 201/2B coil was stable; for cold-rolled raw edge 304/2B coil, average prices were flat in Wuxi and Foshan; cold-rolled 316L/2B coil prices in Wuxi were unchanged; for hot-rolled 316L/NO.1 coil, quotes in Wuxi were flat; and cold-rolled 430/2B coil prices in both Wuxi and Foshan were unchanged. This week, stainless steel futures were disrupted by both industry news and capital flows, experiencing wild swings with an intense tug-of-war between longs and shorts. News about additional nickel ore quotas under Indonesia’s RKAB repeatedly disturbed market expectations during the week, and with shifting capital flows in futures, SS futures rose first and then fell, briefly testing the 15,100 yuan/mt mark mid-week. However, as expectations of growth in nickel ore quotas heated up, bulls’ confidence evaporated, and futures pulled back to a weaker level…

Production Line Resumes Production and Launches! Inner Mongolia Qinjin New Materials Completes Stainless Steel Entire Industry Chain On August 6, good news came from the Naiman Banner Industrial Park: the stainless steel hot-rolling and pickling production line of Inner Mongolia Qinjin New Materials Group successfully completed commissioning and officially resumed production and launched, with the first batch of qualified stainless steel hot-rolled pickled coils successfully rolling off the line. The successful launch of this production line marks that the Qinjin Group's "ferroalloy—stainless steel smelting—hot rolling—annealing—pickling" integrated stainless steel entire industry chain system is fully ready for production and operation. It is reported that Inner Mongolia Qinjin New Materials Group Co., Ltd. was established in April 2017, is affiliated with Hebei Bishi Group, and is located in the Naiman Banner Nickel-based Circular Economy Industrial Park. The enterprise deeply cultivates the green and low-carbon new materials field, leveraging regional clean energy advantages, and has laid out and constructed a series of production lines including nickel-iron alloy, SiMn alloy, high-carbon ferrochrome, stainless steel smelting, hot rolling, pickling, etc., building a closed-loop, complete, green, and efficient nickel-based new materials entire industry chain production system. This key project covers a total area of nearly 10,000 mu, with an estimated total investment of 21 billion yuan, demonstrating prominent industrial scale and development potential. Upon full production, the project is expected to achieve an annual total industrial output value of 70 billion yuan, generate annual tax revenue of 3.5 billion yuan, and directly create jobs for more than 15,000 people. Leveraging the cost advantages, technology advantages, and industrial radiation advantages brought by the entire industry chain integration, it boosts the collaborative development of related industries such as stainless steel deep processing, supporting processing, logistics transportation, and equipment operation and maintenance, helping the Naiman Banner stainless steel industrial cluster to accelerate quality improvement, capacity expansion and upgrade, and enter the fast lane of high-quality development.